Roku (NASDAQ:ROKU) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a research report released on Monday morning,Benzinga reports. The firm currently has a $120.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Bank of America lifted their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 price target on shares of Roku in a research note on Thursday, February 13th. Loop Capital increased their price objective on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $74.00 to $129.00 in a report on Friday, February 14th. Finally, Pivotal Research raised Roku from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $125.00 in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.67.

Roku Price Performance

Shares of ROKU opened at $77.87 on Monday. Roku has a 1 year low of $48.33 and a 1 year high of $104.96. The stock has a 50 day simple moving average of $81.15 and a two-hundred day simple moving average of $77.55. The firm has a market cap of $11.36 billion, a P/E ratio of -87.49 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the sale, the chief financial officer now directly owns 63,555 shares in the company, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock valued at $8,633,436 over the last 90 days. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its stake in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC bought a new stake in Roku during the 4th quarter worth approximately $30,000. Raelipskie Partnership purchased a new position in Roku during the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC bought a new position in shares of Roku in the fourth quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.